Design Therapeutics (NASDAQ:DSGN) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• Design Therapeutics reported a quarterly loss of $0.32 per share, beating analysts’ consensus estimate of a $0.34 loss by $0.02.
• DSGN opened at $12.18, with a market capitalization of approximately $760.8 million; its shares have traded between $3.76 and $17.25 over the past year.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $16.50, while institutional investors own 56.64% of the stock.

Design Therapeutics (NASDAQ:DSGN - Get Free Report) issued its quarterly earnings results on Monday. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.34) by $0.02, FiscalAI reports.

Design Therapeutics Stock Performance

NASDAQ DSGN opened at $12.18 on Monday. The company has a market cap of $760.76 million, a P/E ratio of -10.15 and a beta of 1.63. The business's 50 day moving average price is $12.46 and its 200-day moving average price is $11.70. Design Therapeutics has a fifty-two week low of $3.76 and a fifty-two week high of $17.25.

Institutional Trading of Design Therapeutics

A number of institutional investors have recently bought and sold shares of DSGN. Invesco Ltd. increased its position in Design Therapeutics by 26.8% during the second quarter. Invesco Ltd. now owns 14,364 shares of the company's stock valued at $48,000 after acquiring an additional 3,033 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Design Therapeutics by 69.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 6,377 shares of the company's stock worth $48,000 after acquiring an additional 2,618 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Design Therapeutics during the 4th quarter worth about $67,000. Jane Street Group LLC purchased a new position in shares of Design Therapeutics during the 1st quarter worth about $70,000. Finally, Bank of America Corp DE grew its holdings in Design Therapeutics by 11.1% during the 2nd quarter. Bank of America Corp DE now owns 24,625 shares of the company's stock valued at $83,000 after purchasing an additional 2,459 shares during the last quarter. 56.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DSGN shares. Cantor Fitzgerald assumed coverage on shares of Design Therapeutics in a report on Tuesday, May 12th. They set an "overweight" rating for the company. Oppenheimer upped their target price on shares of Design Therapeutics from $18.00 to $21.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Design Therapeutics in a report on Friday, July 17th. Wall Street Zen upgraded shares of Design Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, May 10th. Finally, Piper Sandler reissued an "overweight" rating and set a $20.00 price objective on shares of Design Therapeutics in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Design Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $16.50.

Design Therapeutics Company Profile

Design Therapeutics, Inc a biopharmaceutical company, researches, designs, develops, and commercializes small molecule therapeutic drugs for the treatment of genetic diseases in the United States. The company utilizes its GeneTAC platform to design and develop therapeutic candidates for inherited diseases caused by nucleotide repeat expansion. Its lead product candidates for potentially disease-modifying treatment comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function that brings to neurological, cardiac, and metabolic dysfunction; Myotonic Dystrophy Type-1, a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs; Fuchs Endothelial Corneal Dystrophy, a genetic eye disease characterized by bilateral degeneration of corneal endothelial cells and progressive loss of vision; and Huntington's Disease, a dominantly inherited, monogenic neurodegenerative disease characterized by movement, cognitive, and psychiatric disorders.

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